Some economists argue that our budgetary defi cits contribute to our balance of payments prob lems. How do they make their case?
Answer to relevant QuestionsWhat is economics? Why is economics considered one of the social sciences? What are some of the other social sciences? What do social scientists study? What distinguishes entrepreneurship from the other factors of production? Balance of payments problems and long-term international debt plague the less-developed economies. The two issues are related. Explain. Describe the demographic trap. Show the effect of foreign direct investment on an economy's production possibilities curve.
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